M&A Deal Summary |
|
|---|---|
| Date | 2016-06-03 |
| Target | Obvious Engineering |
| Sector | Internet Software and Services |
| Buyer(s) | Snap |
| Deal Type | Add-on Acquisition |
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| Category | Company |
|---|---|
| Founded | 2010 |
| Sector | Internet Software and Services |
| Employees | 5,289 |
| Revenue | 4.6B USD (2023) |
Snap is the developer of Snapchat, a camera application that was created to help people communicate through short videos and images. The Company calls each of those short videos or images a Snap. Snapchat opens directly into the Camera, making it easy to create a Snap and send it to friends. Snaps are deleted by default, so there is a lot less pressure to look pretty or perfect when creating and sending images on Snapchat. Snap offer lots of creative tools like lenses, geofilters, and bitmojis that allow its community to express themselves through Snaps. Lenses are interactive animations that are overlaid on a person’s face or the world around them. Geofilters are artistic filters that can be applied after a Snap is taken at pre-defined times and locations. Bitmojis are cartoon likenesses of a user that are created in the Bitmoji application. Snap was formed in 2010 and is based in Santa Monica, California.
| DEAL STATS | # |
|---|---|
| Overall | 6 of 18 |
| Sector: Internet Software and Services M&A | 4 of 10 |
| Type: Add-on Acquisition M&A Deals | 6 of 18 |
| State: California M&A | 5 of 8 |
| Country: United States M&A | 5 of 9 |
| Year: 2016 M&A | 2 of 4 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2016-03-24 |
Bitstrips
Toronto, Ontario, Canada Bitstrips, Inc. is an application that makes personalized emojis known as bitmojis. |
Buy | $100M |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2016-08-17 |
Verbify
San Francisco, California, United States Vurb is a mobile search and recommendation app. Vurb was formed in 2011 and is based in San Francisco, California. |
Buy | $110M |
